Hi-Tech Lubricants opens 50th fuel station in OMC project

MG News | May 03, 2024 at 12:52 PM GMT+05:00

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May 03, 2024 (MLN): The 50th fuel station under Hi-Tech Lubricants Limited (PSX: HTL)'s Oil Marketing Company Project (OMC-Project) became operational on May 01, 2024, as revealed in the company's filing on the Pakistan Stock Exchange (PSX) today.

It is crucial to note that this is the 12th HU Fuel Station in the Khyber Palchtunichwa province of Pakistan.

To recall, on February 15, 2024, the Oil and Gas Regulatory Authority (OGRA) extended the provisional license for the establishment of an OMC by HTL until December 31, 2025.

Despite this favorable development for the company, its scrip is trading under the red zone, down by 27 paisa or 1.08% compared to the last close.

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